On average, Certified Management Accountants earn salaries about 18% higher than non-certified peers in accounting and finance. The demand for CMAs has increased significantly post-pandemic, and CMAs remain highly sought after in today’s competitive job market.
Institute of Management Accountants conducts detailed global and regional salary surveys frequently to evaluate CMAs’ pay, career satisfaction, and overall relevance across the accounting and finance industries. These reports break down key compensation information and identify the factors that drive this data. The latest IMA Salary Survey provides insight into workplace changes and how certification translates to value in today’s market.
Average CMA Salary
A CMA brings many skills, including strategic business acumen and financial management, that help organizations meet their financial goals. Working closely with top leadership teams, CMAs earn quality salaries and are likely to become chief financial officers and vice presidents of finance.
According to the 2023 IMA Global Salary Survey, CMAs earn an annual average salary of $69,000, with an average total compensation of $83,000. For the U.S., this figure is considerably higher at $130,000 for base salary and $154,000 for total compensation.
CMA Impact on Salary and Beyond
While CMAs are well-compensated for their services, other perks identified in the survey include flexibility to move across industries, job performance bonuses, and improved job satisfaction.
- 55% of employees reported that their salaries increased after the pandemic
- 71% reported that CMA credentials helped them to move across industries
- 69% said that obtaining a CMA certification improved career opportunities/promotion
- 84% of CMAs reported that they would refer the Certified Management Accountant credential to their friend or colleague
Factors Determining CMA Salary
CMA salaries vary across regions, positions, and industries. However, CMAs generally earn more than their non-certified peers at every career stage.
Country
The CMA is a truly global certification — requirements for earning this designation are uniform around the world, and organizations in all major financial hubs recognize the value of leadership in management accountancy. As CMAs practice in over 100 countries, salaries range widely depending on region and overall cost of living.
In the 2023 Global Salary Survey, regions noting the highest compensation among CMAs include the Americas and Europe.
| Region | Base Salary | Total Compensation | ||
|---|---|---|---|---|
| Mean | Median | Mean | Median | |
| Americas | $129,961 | $120,000 | $153,874 | $132,000 |
| Asia Pacific | $36,985 | $26,092 | $44,548 | $29,686 |
| Europe | $104,369 | $90,661 | $124,024 | $98,298 |
| Middle East/Africa/India | $32,878 | $16,000 | $39,584 | $19,200 |
| All | $69,427 | $45,873 | $82,670 | $54,398 |
Job Position
CMAs have different career options as they climb the ladder across industries. With deep knowledge of management accountancy, business acumen, and leadership skills, CMAs often rise faster than non-certified peers to top management roles. This ability to ascend to leadership positions quickly gives CMAs an edge, compensation-wise, over other accountants.
The largest pay difference indicated in the 2023 Global Salary Survey is between middle and senior-level management, which typically include mid-career and later-career roles. Senior managers earn an average of 15% more than middle managers.
| Total Compensation | |||||
|---|---|---|---|---|---|
| Management Level | Americas | Asia Pacific | Europe | Middle East/Africa/India | All |
| Top Management | $195,000 | $68,787 | $191,988 | $57,225 | $135,000 |
| Senior Management | $150,000 | $50,734 | $116,273 | $53,885 | $125,000 |
| Middle Management | $122,000 | $34,394 | $93,978 | $24,582 | $49,867 |
| Lower Management/Entry-Level | $92,030 | $18,844 | $61,276 | $10,892 | $22,873 |
| Academic Position In College or University | $117,200 | $21,711 | $72,105 | $13,318 | $72,737 |
Industry
CMAs work in all industries: financial services, healthcare, education, manufacturing, and government. They utilize their financial and accounting expertise to help drive and maintain healthy businesses. CMAs are highly sought-after professionals, with the highest median salary in the government/military.
| Industry | CMA Salary |
|---|---|
| Government/Military | $93,165 |
| Non-Profits | $87,500 |
| Healthcare | $74,338 |
Source: 2023 IMA Global Salary Survey
CMA vs Non-CMA Salaries
CMAs continue to make the most of their certification by bringing in a premium of 18% over their non-CMA peers. The 2023 survey shows that CMA certification is highly valuable for early-career professionals globally. Nearly half of all IMA members, 49% specifically, report an increase in salary after obtaining the certification. However, CMA premiums are highest in Europe (45%) and the lowest in the Asia-Pacific region (11%).
| Region | Base Salary (Mean) | Total Compensation (Mean) | CMA Premium | |||
|---|---|---|---|---|---|---|
| Non-CMA | CMA | Non-CMA | CMA | Base Salary | Total Compensation | |
| Americas | $114,190 | $137,137 | $131,770 | $163,932 | 20% | 24% |
| Asia Pacific | $33,895 | $37,600 | $39,893 | $45,475 | 11% | 14% |
| Europe | $79,238 | $115,014 | $95,093 | $136,277 | 45% | 43% |
| Middle East/Africa/India | $26,740 | $37,222 | $32,209 | $44,803 | 39% | 39% |
| All | $61,730 | $72,549 | $72,102 | $86,955 | 18% | 21% |
Considering Age and CMA vs. Non-CMA Salaries
Regarding age parameters, median salary premiums are highest for Generation Z (41%) and the lowest for Generation X (10%). IMA members in their 20s and 30s see the largest gains from the CMA certification. Here’s how much you’d earn as a Gen Z entering the market as a CMA, compared to Gen X and other generations.
| Age Group | Non-CMA Median Base Salary | CMA Median Base Salary | CMA Premium |
|---|---|---|---|
| 58 or Older (Baby Boomer +) | $125,000 | $140,000 | 12% |
| 43-57 (Gen X) | $91,000 | $100,025 | 10% |
| 27-42 (Millenial) | $32,675 | $38,856 | 19% |
| 26 or Younger (Gen Z) | $7,860 | $11,100 | 41% |
Source: 2023 IMA Global Salary Survey
CMA vs. CPA Salaries and Dual Credentials
Many accounting professionals hold dual CMA and Certified Public Accountant (CPA) credentials. These certifications offer better opportunities and higher earning potential. While the average salary for both CMA and CPA is similar in the U.S., the difference varies in other markets and countries. However, in each case, dual certification offered higher earnings.
| Median Base Salary | Neither | CMA Only | CPA Only | CMA and CPA |
|---|---|---|---|---|
| Americas | $99,375 | $120,000 | $126,274 | $137,800 |
| Asia Pacific | $26,030 | $24,763 | $27,600 | $32,164 |
| Europe | $69,979 | $93,644 | $57,063 | $108,660 |
| Middle East/Africa/India | $12,093 | $16,000 | $36,333 | $40,029 |
| All | $36,417 | $41,272 | $91,806 | $99,500 |
Stacking CMA and CPA Credentials
While CMA gives you a competitive advantage in management accounting, stacking it with a CPA credential is doubly advantageous. As a CMA and CPA, you combine your strategic management acumen with solid accounting and analytical skills. The result is higher pay, a better professional network, and faster career progression.
- Higher earning potential: The 2023 IMA Global Salary Survey found that accounting professionals with CMA and CPA credentials earn at least 10-20% more than their peers.
- Better professional network: IMA and the American Institute of Certified Public Accountants (AICPA) are global networks for CMA and CPA professionals. They organize workshops, seminars, and meet-ups for candidates and certified individuals to connect, seek mentorship, and participate in professional development events.
- Faster career progression: Pursuing 2 demanding certifications early in your career signals that you’re ambitious and capable of tackling multiple challenges. Your likelihood of qualifying for the next promotion increases drastically as you demonstrate your technical and strategic acumen.
